Singapore-based Bambu Providing Unique Solution To Financial Institutions


Singapore-based startup Bambu, a robo-advisory tech platform for Financial Institutions and consumer brands, co-founded by Aki Ranin, Luke Janssen and Ned Phillips in 2016. The startup has its subsidiaries in Hong Kong, Malaysia and the United Kingdom, as well as representatives in Africa, Europe and America.

Bambu is providing services to businesses of every size and industry, from finance to commercial or even new disruptors, transforming the digital wealth space. The leading global provider of robo-advisory technology helps in enabling businesses to make saving and investing more straightforward and intelligent for their clients. The smart advisory solution is powered by Bambu’s proprietary algorithms and machine learning tools.

Recently, on Jul 11, 2018, Bambu has raised $ 3 million funds in Series A from Franklin Templeton Investments. On Aug 1, 2016, the company raised $400K in seed round funding. The major investors of the startup are Franklin Templeton Investments, Wavemaker Partners, Mamoru Taniya, BANSEA, Robby Hilkowitz and Octava.

Also, the company has reached several milestones such as Fintech of the Year by The Asset (2017), Best of Show at FinovateAsia (2017), Best Early Stage Startup at VISA Fintech Finals (2017) and Finalist in Jumpstarter by Alibaba (2017).

“Early this year we already surpassed the growth targets we had set for 2018, with seven new clients preparing to go live between the Asian and US markets. This proves our B2B business model is working, as there is real global scalability without large capital requirements. Our next ambitious goal is to get 1 million end users on the platform by 2019, said Ned Phillips.”

Bambu: Leveraging Deep Learning Technologies:

Bambu has three different products for savings, investments and private banking, unlike other robo-advisor companies, that claims that their product diversity will allow in targeting more potential applications and a larger pool of clients. The company provides the ability to combine and benefited from the ongoing and radical digital transformation in wealth management.

2018 has proven a marquee year for the 2-year-old startup Bambu. The startup claimed that it has generated about US$500,000 in revenue. Also, signed deals with North and South America as well as clients based in Asia.

The startup signed a deal with the notable business player of the market, such as Standard Chartered Bank, Crossbridge Capital and Thomson Reuters.

Bambu has developed unique solutions for each segment of the market: a one-stop-shop “Robo-in-a-box,” for any company to offer end-to-end digital solutions to retail investors; for financial institutions, a white label platform for financial institutions to offer robo-advisory to their customers and a propriety algorithm-ranking tool, Intelligent Advisor, for high net worth investors for improvising customer experience.

“We are incredibly grateful for the support of all our existing and new investors and customers in helping us to build a leading global robo-advisory technology company, Ned Phillips, co-founder of Bambu.”

Major Competitors and Challenges for Bambu:

Bambu has three different products targeting different customers whereas, other robo-advisor companies have only one product specifically for a targeted segment of the customers. Major competitors of Bambu are Quantifeed, Smartly, 8 Securities, Theo.

The startup deal in B2B segment of the market and there are more opportunities in this segment compared to challenges. According to the co-founder of the startup, there is no such opportunity like this and its huge. The company has its various offices in different countries and different tendencies of the customers.

China is the leading fintech sector in the world. Singapore positioning itself as a leading centre to base fintech companies to expand throughout the rest of the region with the huge support of the Monetary Authority of Singapore and the government.

There are several robo companies in the market who have built a strong relationship with their customers and have gained trusts, such as Ant Financial, WeChat, KaoKao and domestic banks.

Beating such competition in the Singapore market is the biggest challenge for the company. But the fintech sector of Singapore is evolving at a pace never seen before.

In Singapore, there is a huge market of wealth businesses but that doesn’t mean that the startup gets all the support or customers automatically. The startup can gain a foothold and grow but the real challenge in Singapore is big banks that are continuously doing a lot of tech-related PR at the moment.

Compliance is one of the biggest challenges in the Singapore region even though the country offers the best legal frameworks in the world but its not easy for the startups to clear required licenses.

In the wealth-tech sector, the competition is intensifying with the continuously increasing number of players in the market than before. Although Singapore has a strong pool of talent in the sector from smart young entrepreneurs to former bankers, fund managers and wealth managers.

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